Qualcomm Shares Opinion on the Recent Apple Lawsuit: “Apple’s Claims are Baseless”
Qualcomm has been under some fire all around the world recently due to their business practices. Thanks to an anti-monopoly investigation, Qualcomm agreed to pay China over $900 million towards the end of 2015. They were also accused of violating antitrust rules within Europe that same year.
>We saw Qualcomm agree to pay a $7.5 million fine to settle with an SEC investigation in early 2016. And just last month they faced a fine of over $850 million in South Korea from alleged antitrust violations.
We see big companies such as Google facing these antitrust allegations in many parts of the world as well. So it feels almost inevitable for these claims to surface once your company gets so big and does business in so many countries. The latest to go after Qualcomm is actually Apple themselves, as they have announced they’re suing Qualcomm for $1 billion in the U.S. District Court for the Southern District of California. Apple claims that Qualcomm is overcharging for chips, and that they’ve even refused to pay close to $1 billion in promised rebates.
Apple believes Qualcomm withheld these rebates because they were in discussion with South Korea’s antitrust regulator, the Korea Fair Trade Commission. Apple even goes as far as to say Qualcomm attempted to extort Apple into giving the Korea Fair Trade Commission false information in exchange for the release of those rebate payments to Apple. Qualcomm immediately put out an official statement once this lawsuit was made public and says “Apple’s claims are baseless.”
Qualcomm says that Apple has been “actively encouraging regulatory attacks” on the business that Qualcomm does in various regions around the world. Claiming that Apple is “misrepresenting facts and withholding information” when they talk to those in the KFTC and FTC. Qualcomm says they’re looking forward to hearing these claims explained in court and they’ll be there to prove Apple is intentionally mischaracterizing their agreements and negotiations.
Read the full statement by following the link below:Source: Qualcomm